Using statistical sampling to assist in verifying the year-end accounts payable balance, an auditor has accumulated the following data: (Population/Sample) Show Number of Accounts: 4,100/200 Book Balance: $5,000,000/$250,000 Balance Determined by the Auditor: ?/$300,000 Using the ratio estimation technique, the auditor's estimate of the year-end accounts payable balance would be 33.Which of the following sampling methodswould be used to estimate a numericalmeasurement of a population, such as a pesovalue? A. Variable samplingB.Attribute samplingC.Random-number samplingD. Stop-or-go samplingA. variable sampling plan is designed to test whetheran account balance is materially misstated andtherefore addresses numerical measurements suchas a peso value.Answer Bis incorrect because attribute samplingdealswithdeviationrates,notnumericalmeasurements.Answer Cis incorrect because random-number sampling is a selection method andmay be used with either an attribute or avariable sampling plan.Answer Dis incorrect because stop-or-go sampling(also called sequential sampling) is a form ofattribute sampling. In stop-or-go sampling, the sample isselected in several steps (i.e., not only asingle sample is tested). For each step, theauditor decided whether to stop the test orto proceed to the next step.35. Which of the following combinations results in adecrease in sample size in an attribute sample? Get answer to your question and much more To determine the sample size for tests of controls,the auditors considers the following factors:FactorsConditions Leading toSmallerLarger Sample SizeSample Size1)Planned relianceLower relianceHigher reliance on internal control1oninternalon internalcontrolcontrol2) Tolerable deviationHigher TDRLower TDR rate (TDR)23)Allowable risk ofHigher allowableLower allowable assessing controlriskof assessingrisk assessing risk toolowcontrol riskcontrol risktoo lowtoo low4)Expected population deviation rate(EDR)3Lower EDRHigher EDR5)Number of sampling units in theNegligible effect on sample sizepopulationunless population issmall.1The auditor does not perform tests of controlswhen no reliance on internal controls is planned. Get answer to your question and much more Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 17 pages? Upload your study docs or become a Course Hero member to access this document Which of the following sampling methods would be used to estimate a numerical measurement of a population, such as a dollar value?
Which of the following sampling methods is used to estimate a numerical measurement?2. Which of the following sampling methods is used to estimate a numerical measurement of a population, such as a dollar value? A. Random-number sampling.
Which of the following sampling methods would be used to estimate a numeric mea Surement of a population such as a dollar value?Terms in this set (9) Which of the following sampling methods would be used to estimate a numeric measurement of a population, such as a dollar value? a. Random sampling.
Which of the following statements is an advantage of classical variables sampling?Which of the following statements is an advantage of classical variables sampling? If no errors are expected, classical variables sampling will result in a smaller sample size than probability-proportional-to-size sampling. A classical variables sampling plan can begin before the completed population is available.
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Which of the following sampling methods would be used to estimate a numerical measurement of population?
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